ARGA Investment Management LP Purchases 214,926 Shares of Arrow Electronics, Inc. (NYSE:ARW)

ARGA Investment Management LP raised its position in shares of Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 273.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,561 shares of the technology company's stock after buying an additional 214,926 shares during the quarter. Arrow Electronics comprises 1.0% of ARGA Investment Management LP's portfolio, making the stock its 20th biggest holding. ARGA Investment Management LP owned approximately 0.57% of Arrow Electronics worth $30,480,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC grew its holdings in Arrow Electronics by 4.2% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 2,643 shares of the technology company's stock valued at $274,000 after buying an additional 106 shares in the last quarter. Moody Aldrich Partners LLC grew its holdings in Arrow Electronics by 33.7% during the 1st quarter. Moody Aldrich Partners LLC now owns 18,591 shares of the technology company's stock valued at $1,930,000 after buying an additional 4,687 shares in the last quarter. Buttonwood Financial Advisors Inc. grew its holdings in Arrow Electronics by 22.0% during the 1st quarter. Buttonwood Financial Advisors Inc. now owns 57,185 shares of the technology company's stock valued at $5,938,000 after buying an additional 10,325 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Arrow Electronics by 27.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 33,713 shares of the technology company's stock valued at $3,500,000 after buying an additional 7,189 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Arrow Electronics by 14.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 50,015 shares of the technology company's stock valued at $5,193,000 after buying an additional 6,459 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Insider Buying and Selling

In related news, insider Eric Nowak sold 4,952 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $122.39, for a total transaction of $606,075.28. Following the completion of the sale, the insider directly owned 43,895 shares of the company's stock, valued at approximately $5,372,309.05. This trade represents a 10.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $124.64, for a total value of $331,542.40. Following the sale, the senior vice president directly owned 17,057 shares of the company's stock, valued at $2,125,984.48. This represents a 13.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,070 shares of company stock valued at $1,116,062. Insiders own 0.80% of the company's stock.

Arrow Electronics Trading Up 1.5%

Shares of Arrow Electronics stock traded up $1.90 on Tuesday, reaching $132.11. The company had a trading volume of 507,447 shares, compared to its average volume of 487,015. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 0.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.43 and a quick ratio of 1.05. The firm's 50-day moving average price is $121.80 and its two-hundred day moving average price is $113.19. Arrow Electronics, Inc. has a 1 year low of $86.50 and a 1 year high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.33. The firm had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.32 billion. Arrow Electronics had a return on equity of 8.97% and a net margin of 1.40%. The company's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.41 EPS. As a group, research analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Bank of America lifted their target price on Arrow Electronics from $105.00 to $110.00 and gave the stock an "underperform" rating in a report on Monday, June 9th.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.